AL SB159

Repeals Act 2011-3 (HB57) from the 2011 Regular Session, which established the Education Trust Fund Rolling Reserve Act.

Reenacts Section 40-1-32.1 of the Alabama Code to reestablish the Education Trust Fund Proration Prevention Account within the State Treasury.

Requires the Finance Director to transfer 75 percent of unanticipated and unappropriated ending balances from the Education Trust Fund into the Proration Prevention Account beginning October 1, 2008, and annually thereafter by October 15.

Allows withdrawals from the Proration Prevention Account only to prevent proration in the Education Trust Fund upon gubernatorial certification or by legislative act requiring a two-thirds recorded vote in each chamber.

Requires any account balance exceeding 10 percent of the prior year's Education Trust Fund appropriations to revert back to the Education Trust Fund for public education support and maintenance.